THE FRANKLIN JOHNSTON GROUP CONTINUES TO BUILD A BRIGHTER FUTURE
MULTI-FAMILY FIRM TRANSFORMING COMMUNITIES UP AND DOWN THE EAST COAST
Virginia Beach, VA – The Franklin Johnston Group is busy ushering in another milestone year in 2019, with construction now underway on several apartment communities and opening a second corporate office in Arlington, Virginia.
“These new developments will be a great addition to areas of Virginia Beach that are undergoing redevelopment and transformational change,” said Chief Development Officer, Tom Johnston. “We’re not just building apartments – we’re building communities and places that our residents call home for one or two and often times many years”.
In 2018 alone, The Franklin Johnston Group added 20 new communities to its portfolio. Now with more than 16,000 units and 95 properties under management in seven East Coast states, total assets managed by the group exceed $1.8 billion, with an additional $200 million in development underway.
Growth in the D.C., Maryland, and Virginia markets has been so strong, the company opened a second corporate office. The new office is located in the heart of the Arlington, Virginia in Shirlington Towers overlooking I-395 and is adjacent to the Shirlington Station.
By summer, the Franklin Johnston Group plans to open three new apartment communities in Virginia Beach, one near Virginia Wesleyan University, and two as part of a large city redevelopment effort underway off Witchduck Road.
“Our success continues to center on creating the kind of modern-day, amenity-packed communities that people demand and want to call home,” said company President and Chief Operating Officer, Taylor Franklin.
Coastal 61 at Oxford Village
Located adjacent to the Virginia Wesleyan campus, Coastal 61 at Oxford Village is 248-unit, upscale community with immediate access to Interstate-64, Norfolk Premium Outlets and the soon-to-come IKEA furniture store. The community will include a rooftop sky park, two-story luxurious clubhouse, a resort-class swimming pool and apartments equipped with all the latest modern amenities and conveniences. Construction is set to begin in Spring 2019.
Two Hundred
Two Hundred West will be a brand new neighborhood of 264 apartments in a strategic growth area of the city. The community will be the start of creating and reviving the west side of Virginia Beach Town Center. Two Hundred West will feature a resort-style swimming pool, two-story clubhouse, business center, state-of-the-art fitness center and playground. Two Hundred West opens in Summer 2019.
The Renaissance
Also located along the west side of Virginia Beach Town Center, The Renaissance will include 240 apartments on what is now mostly vacant land near the intersection of Virginia Beach Boulevard and Witchduck Road. The contemporary community will include a two-story clubhouse, resort-style swimming pool, dog park and more. Construction is expected to be complete by summer 2019.
“These new developments will be a great addition to areas of Virginia Beach that are undergoing redevelopment and transformational change,” said Chief Development Officer, Tom Johnston. “We’re not just building apartments – we’re building communities and places that our residents call home for one or two and often times many years”.
The Franklin Johnston Group now employs more than 400 people, with many of them starting 2019 with new professional titles. The company promoted more than 50 employees from within last year, including many at the management level who learned the business from the ground up. “Our continued success is due to the hundreds of talented people who have built The Franklin Johnston Group into what it is today,” Franklin said.
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About the Franklin Johnston Group: Based in Virginia Beach, The Franklin Johnston Group develops and manages luxury, senior and affordable housing for themselves and a select group of strategic partners. The group has more than 16,000 units and 95 properties under management in seven states along the east coast. Total assets managed by the group exceed $1.8 billion, with an additional $200 million worth of development currently underway. For more information about The Franklin Johnston Group, visit www.thefranklinjohnstongroup.com.
